1. How to do currency conversion?

1-1. Open Tiger Trade mobile APP, click ① Portfolio > currency conversion, or ② Profile > Tiger Account > Prime - Securities Segment > Cash > Exchange, specify the currency and amount, and then exchange.

1-2. Open Tiger Trade PC APP, click Account > Cash > Exchange, specify the currency and amount, and then exchange.

 

2. What is currency conversion?

Currency conversion is the exchange of cash currencies in the client's Tiger Account. After depositing funds, the client may exchange the cash into different currencies and invest in corresponding markets, with no financing interest rate charged (The cash settlement requires 2 trading days,there will be financing interest if trading with unsettled cash). Tiger Brokers supports trading in multiple markets with one account. Please refer to the following link to learn more about the current products available with Tiger Brokers: https://www.tigerbrokers.com.sg/help/detail/products-available.

 

3. What are the advantages of currency conversion?

Tiger Account is a multi-currency account that makes it easy for clients to trade the global markets. When trading global markets, the client may use multi-currencies exchanged in Tiger Trade instead of exchanging in a bank then depositing. Tiger's currency conversion rates are better than banks, and there are no commissions. If the client finances the transaction, with a margin loan,converting currency will reduce the interest expense of the margin loan.

4. What currencies can I exchange?

Tiger supports currency conversion in the following currencies: SGD, USD, HKD, CNH, AUD, NZD, EUR, GBP, and JPY.

5. What is the exchange rate?

The currency conversion rate is real-time and superior to that of most banks. 

 

6. What are the fees for currency conversion?

Fees are currently waived.

 

7. When can I do the currency conversion?

Market hours:Mon to Sat,6:20-next 4:55, UTC+8

Weekend hours:Sat to next Mon,6:20-next 4:55, UTC+8

 

8. Other notes

The settlement periods of currency conversion are T+0 or T+1, depending on clients’ selection.

The unsettled cash can be used to make T+1 conversion. If you choose T+1 conversion, you can directly use the funds to open US stocks or options after the successful conversion. On the contrary, if you close the position of US stocks or options, you can directly convert the funds.

The settled cash can be used to make T+0 conversion. If you choose T+0 conversion, you can make withdraw/transfer/other trades directly. However, if you close the positions for other trades, you need to convert funds after the settlement is finished in your account.

*For the base currency of each currency conversion, please refer to this list

Symbol

Security Type

Base Currency

AUD.CNH

Foreign Exchange

AUD

AUD.HKD

foreign exchange

AUD

AUD.JPY

foreign exchange

AUD

AUD.NZD

foreign exchange

AUD

AUD.SGD

foreign exchange

AUD

AUD.USD

foreign exchange

AUD

CNH.HKD

foreign exchange

CNH

CNH.JPY

foreign exchange

CNH

EUR.AUD

foreign exchange

EUR

EUR.CNH

foreign exchange

EUR

EUR.GBP

foreign exchange

EUR

EUR.HKD

foreign exchange

EUR

EUR.JPY

foreign exchange

EUR

EUR.NZD

foreign exchange

EUR

EUR.SGD

foreign exchange

EUR

EUR.USD

foreign exchange

EUR

GBP.AUD

foreign exchange

GBP

GBP.CNH

foreign exchange

GBP

GBP.HKD

foreign exchange

GBP

GBP.JPY

foreign exchange

GBP

GBP.NZD

foreign exchange

GBP

GBP.SGD

foreign exchange

GBP

GBP.USD

foreign exchange

GBP

HKD.JPY

foreign exchange

HKD

NZD.CNH

foreign exchange

NZD

NZD.HKD

foreign exchange

NZD

NZD.JPY

foreign exchange

NZD

NZD.USD

foreign exchange

NZD

SGD.CNH

foreign exchange

SGD

SGD.HKD

foreign exchange

SGD

SGD.JPY

foreign exchange

SGD

USD.CNH

foreign exchange

USD

USD.HKD

foreign exchange

USD

USD.JPY

foreign exchange

USD

USD.SGD

foreign exchange

USD

FAQs

1. After making a deposit (not in USD), does the system automatically convert the funds into USD?

→  Tiger Trade APP does not do the currency conversion automatically. The base currency in Tiger is USD, so the currency displayed is USD. The client may view the actual cash amount via APP > Portfolio > Account > Cash. For example, if a client deposits SGD and intends to trade US stocks with Tiger, he/she has two options: 1. currency conversion: APP > Portfolio > Account > Cash > Exchange; 2. Trading by financing.

2. Can Tiger Account hold funds in multiple currencies at the same time?

→  Yes.

 

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